Fox Factory Holding Corp (FOXF)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 373,528 | — | — | — | 0 | 0 | 0 | 356,288 | 360,953 | 365,615 | 370,275 | 374,933 | 377,088 | 379,242 | 381,393 | 385,404 | 0 | 0 | 0 | 51,123 |
| Total stockholders’ equity | US$ in thousands | 1,221,760 | 1,241,300 | 1,205,800 | 1,164,250 | 1,121,390 | 1,055,130 | 1,001,930 | 949,084 | 894,082 | 850,040 | 804,369 | 762,291 | 719,171 | 683,927 | 633,064 | 429,706 | 422,200 | 396,620 | 369,180 | 339,421 |
| Debt-to-equity ratio | 0.31 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.38 | 0.40 | 0.43 | 0.46 | 0.49 | 0.52 | 0.55 | 0.60 | 0.90 | 0.00 | 0.00 | 0.00 | 0.15 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $373,528K ÷ $1,221,760K
= 0.31
The debt-to-equity ratio for Fox Factory Holding Corp has exhibited fluctuations over the past few quarters.
In the most recent quarter (December 31, 2023), the debt-to-equity ratio was 0.31, indicating that the company had a moderate level of debt relative to its equity. Notably, this ratio has significantly decreased from the previous quarter, where it was 0.38.
The trend of decreasing debt-to-equity ratios throughout 2023 suggests that Fox Factory Holding Corp has been reducing its reliance on debt to finance its operations and investments. This can be seen as a positive sign, as a lower debt-to-equity ratio typically indicates lower financial risk and greater financial stability.
It is worth noting that there were some quarters in the historical data where the debt-to-equity ratio was quite high, reaching up to 0.90 in March 2020. However, the company managed to bring this ratio down in subsequent quarters.
Overall, the decreasing trend in the debt-to-equity ratio for Fox Factory Holding Corp reflects a favorable shift towards a more balanced capital structure and improved financial health. Further monitoring and analysis of this ratio in future periods will be important to assess the company's ongoing financial leverage position.
Peer comparison
Dec 31, 2023